IMF: 2018 Iraqi draft budget won't 'cover the needs' of Kurdistan

[yota691]

Iraqi Economists Association: 10 trillion dinars revenues of duties and taxes in the budget of 2018

 

Economy News Baghdad: The Vice President of the Iraqi Economists Association, Bassem Jamil Antoine, said on Thursday that the revenues of duties and taxes in the budget 2018 will reach 10 trillion dinars, adding that the budget for 2018 will be similar to the budget this year, indicating that the budget next year of a rental. Antoine said in an interview with "Economy News" that "the general budget for 2018 will depend on the tightening of the operating budget included salaries," noting that "the rise in oil prices worldwide and the adoption of the imposition of duties and taxes will lead to the budget of 10 trillion dinars as non-oil resources." He added that "the budget will be voted on in the form of programs and not items and the implementation of the program is followed by the House of Representatives and other regulatory bodies." "The size of the Maronites for 2018 is no different from its size in the current budget."     Views 406   Date Added 12/10/2017

[Wiljor]

October 12, 2017 

Iraqi government is expected to withhold the share of Kurdistan Region from the federal budget of 2018.

The Finance Committee of the Iraqi parliament said on Tuesday that the budget of the Kurdistan Region for 2018 will be controversial after the referendum on secession from Iraq.

Hussam al-Eqabi, a member of the committee said that the share of Kurdistan from the budget of 2018 will be subject of disagreement in the Iraqi government and the parliament.

He emphasized that the share of the budget that will help strengthen the Kurdistan Regional Government (KRG) will be cut.

However, he said they will not withhold the rationing of the people.

The Iraqi government has been withholding the public servants’ salaries in Kurdistan Region since January 2014, a budget share which has been established by Iraq’s Constitution.

basnews

http://iraqdailyjournal.com/story-z16033941

 

[Half Crazy Runner]

Thanks Wiljor!  While they're at it, the Iraqi government needs to pass all the stalled laws that the Kurds have been holding up. 

[DinarThug]

 

Iraq is the fifth most borrowing country from the International Monetary Fund

These loans are out of the 15 agreements approved by the International Monetary Fund (IMF) under the non-concessional financing facility with a total value of US $ 134.7 billion during fiscal year 2017

Economic Stability, Restoring Sustainable Economic Growth, and Managing Balance of Payments Problems play a number of roles at the heart of the International Monetary Fund's lending activity in helping member countries deal with their economic crises
 
Unlike development banks, It does not provide IMF loans to finance specific projects, but to countries that may face a shortage of foreign exchange to give it the time needed to correct economic policies and to restore growth without the need to resort to actions harmful to themselves or the economies of other members. 
 
this is clearly evident in the righteousness of The loan program signed with Egypt in 2016, with a duration of 3 years, in return for its association primarily with economic reforms, including the reduction of subsidies and the increase of taxes and the floating of the pound.
 
However, it was noteworthy that Egypt had acquired a significant share of the total loans granted during the fiscal year 2017, with a loan of $ 11.8 billion, ranking second in the list of the 15 countries, after Mexico, "85.5 billion dollars." 
 
Colombia is third with a loan of $ 11.22 billion, Poland and Iraq fourth and fifth respectively with loans of $ 8.9 billion and $ 5.2 billion. 
 
These loans are out of the 15 agreements approved by the International Monetary Fund (IMF) under the non-concessional financing facility with a total value of US $ 134.7 billion during the fiscal year 2017.

http://www.rudaw.net/arabic/bu.....s/12102017

[Synopsis]

53 minutes ago, Half Crazy Runner said:

Thanks Wiljor!  While they're at it, the Iraqi government needs to pass all the stalled laws that the Kurds have been holding up. 

 

The Best Of Your Day To You, Half Crazy Runner and All DV! 

 

In my opinion, the Kurds are really, really beginning to stink and it looks like the Turds are about to hit the high speed fan!

 

I am just hoping the fan is pointed outside of Iraq and the puréed Turds land way off shore in an area far from human habitation!

 

Well, OK, just a little humor here to pass the time.

 

Go Moola Nova!

[10 YEARS LATER]

Unless I've missed something here, how can this help the situation ( the Kurds are more messed up than we REALLY thought ) by putting them in a Stranglehold?

[Synopsis]

3 minutes ago, 10 YEARS LATER said:

Unless I've missed something here, how can this help the situation ( the Kurds are more messed up than we REALLY thought ) by putting them in a Stranglehold?

 

My opinion only, the leadership in Kurdistan is feeling the corruption squeeze and knows what is going to happen once their activities are revealed. Again in my opinion, Barzani played the Kurdish affinity for national autonomy hard to gain a bargaining chip so he and other senior Kurdish officials retain immunity. Once the anti corruption machine hits, I do not think there will be a place to hide - much like the future Nouri al-Maliki "procedure".

 

The taking of the Kirkuk region so that the Kirkuk oil is shipped from a Baghdad entity (if I remember right, the Kirkuk oil is a very significant portion of Kurdistan oil that is currently exporting to and through Turkey) will put a huge dent (maybe hole?) in the Kurdistan revenues and could be the demise of Barzani. I think there are constitutional levers to displace the Kurdistan Referendum and, with a couple dozen high ranking Kurdish leaders removed because of corruption either by Baghdad or the Kurds themselves, the Article 140 with remaining constitutional considerations will be applied much more readily. In summary, I do think the Kurdish Referendum is a last ditch effort by Barzani and his cohorts to retain immunity from the financial and other corruption they engaged in since 2003.

 

Go Moola Nova!

[10 YEARS LATER]

6 minutes ago, Synopsis said:

 

My opinion only, the leadership in Kurdistan is feeling the corruption squeeze and knows what is going to happen once their activities are revealed. Again in my opinion, Barzani played the Kurdish affinity for national autonomy hard to gain a bargaining chip so he and other senior Kurdish officials retain immunity. Once the anti corruption machine hits, I do not think there will be a place to hide - much like the future Nouri al-Maliki "procedure".

 

The taking of the Kirkuk region so that the Kirkuk oil is shipped from a Baghdad entity (if I remember right, the Kirkuk oil is a very significant portion of Kurdistan oil that is currently exporting to and through Turkey) will put a huge dent (maybe hole?) in the Kurdistan revenues and could be the demise of Barzani. I think there are constitutional levers to displace the Kurdistan Referendum and, with a couple dozen high ranking Kurdish leaders removed because of corruption either by Baghdad or the Kurds themselves, the Article 140 with remaining constitutional considerations will be applied much more readily. In summary, I do think the Kurdish Referendum is a last ditch effort by Barzani and his cohorts to retain immunity from the financial and other corruption they engaged in since 2003.

 

Go Moola Nova!

Thanx Synopsis- reckon they will have squeeze 'em til their eyes 👀 pop. So be it. What a Rodeo. 

[Synopsis]

2 minutes ago, 10 YEARS LATER said:

Thanx Synopsis- reckon they will have squeeze 'em til their eyes 👀 pop. So be it. What a Rodeo. 

 

The Best Of Your Day To You, 10 Years Later!       

 

I know You have been riding this Bull (stuff) for 14+ years! Hey, that is astronomically harder than riding a Bull for a measly 8 seconds in a Rodeo!

 

Well, OK, hats off to the Bull Riders and Rodeo Clowns! I couldn't even venture a try in any Bull Riding contest for any amount of time (or money)!

 

      

 

Go Moola Nova!

[10 YEARS LATER]

Good you mentioned Clowns . . . Thuggie has sensitive feelings 

[Half Crazy Runner]

6 hours ago, Synopsis said:

 

The Best Of Your Day To You, Half Crazy Runner and All DV! 

 

In my opinion, the Kurds are really, really beginning to stink and it looks like the Turds are about to hit the high speed fan!

 

I am just hoping the fan is pointed outside of Iraq and the puréed Turds land way off shore in an area far from human habitation!

 

Well, OK, just a little humor here to pass the time.

 

Go Moola Nova!

 

Thanks Synopsis! You have a colorful way with words there!! 🤣

[Synopsis]

1 hour ago, Half Crazy Runner said:

 

Thanks Synopsis! You have a colorful way with words there!! 🤣

 

 The Best Of Your Evening To You, Half Crazy Runner!

 

Go Moola Nova!

[DinarThug]

On 10/12/2017 at 10:39 AM, Synopsis said:

Well, OK, hats off to the Bull Riders and Rodeo Clowns! I couldn't even venture a try in any Bull Riding contest for any amount of time (or money)!

 

      

 

On 10/12/2017 at 2:09 PM, 10 YEARS LATER said:

Good you mentioned Clowns . . . Thuggie has sensitive feelings 

 

It's Just One Of The Side Effects From Always Calling Bull Whenever I See It !  

 

 

     

[Synopsis]

Just now, DinarThug said:

It's Just One Of The Side Effects From Always Calling Bull Whenever I See It !  

 

Oh, Yeah, DinarThug!

 

You The Man!!!! 

 

The Best Of Your Weekend To You! 

[yota691]

Claims of turnover to balance projects instead of items

15/10/2017 12:00 am  To employ public money to achieve development   Baghdad / Hussein Thugb  The general budget enjoys great interest from various segments of society and the choice of a form of organizational budget that balances the national economy and the family economy, which led the civil society institutions to discuss the budget situation and stop at the form that achieves the economic feasibility of Iraq by employing the management of public funds in the directions required. The Ain coalition discussed the budget during a workshop in the presence of a number of specialists in the economic situation and the reality of the federal public funds and strengths and imbalances in the joints, and the requirements required to make them contribute to the development of various activities by switching to balance projects alternative to balance the currently approved items. Follow-up assignments The coordinator of the coalition on the budget Majid Abu Kallal said: "The objective of the workshop is to collect representatives of the coalition from all provinces to have a direct dialogue with the concerned public bodies that prepare the budget, and we are preparing specialists to know the allocations of each sector to enable the follow-up allocations in the form that makes them Go to achieve its goals. " The coalition of Ain on the Mwana in 2016 from 40 organizations interested in the subject of the federal budget and covers all the general provinces of Iraq except the Kurdistan  region. Solutions needed  He pointed out that "attention to the budget stems from its important role in economic life, pointing out that the budget is not free of errors and there is consensus from public and private institutions on this diagnosis, which leads us and with the help of specialists and academics to prepare solutions for these errors."  And demands the economists to work to activate the productive sectors to feed the federal budget by the public resources in multiple, especially as Iraq has the capacity to enable the activation of production in industry and   agriculture. The kinks of the new Secretary General of Iraq , Ali Khazir 's tributaries between a blessing that " the size of the budget gradually increased from 2004 down to the day, and the last period saw the diagnosis of the kinks in the budget, where the louder voices demanding the shift from budget items to the project budget." He pointed out that "the budget projects are more transparent and help the public regulators and civil society institutions to know the flow of funds and the amounts of allocations to projects so that they can then stand on the reality of actual expenditure and the extent of conformity of the achievements relative to the amounts spent for that."  "The budget of the projects plays a role for the tracks of the funds and make them more clear, where the tracker can know the allocations of any ministry and methods of spending that were adopted and the proportion of investment allocations to the operational and suitability to the needs of the ministry or the institution concerned. Level of expenditure President of the Association of Mesopotamia in Karbala Ali al-Asadi said: "The workshop in fact includes two aspects, the first is the hidden budget and stand at the level of expenditure and revenue and what has been achieved, the other side is to raise the cultural level of the Iraqi citizen on the subject of the general budget, and this corresponds to the Iraqi constitution to recognize On the subject of budget and spending mechanisms. "  He explained that "work is being done to increase the culture of members of the coalition on the subject of the budget and the preparation of programs that raise the culture of citizens on this important subject"

[DinarThug]

LINK

Economist: Ten thousand government employees consume 15% of budget allocations

 

15th October, 2017

The economic expert Abbas Ibrahim al-Bahadli, on Sunday, the government to reduce the salaries of special grades in half to compensate the fiscal deficit in the federal budget for 2018. 

He said Al-Bahadi told "Al-Gharab Press" that "ten thousand government employees in particular consume 15% Of the annual budget value. "

 

He stressed that "every minister in the Iraqi government cost the treasury of 100 million dinars a month to run his car and his protections in addition to the provisions of fuel and maintenance for cars." 

He pointed out that "there is a great waste in the operating budget estimated billions of dinars Ybub under unnecessary titles."  He pointed out that "the need to manage public funds by the government in accordance with the factual data witnessed by the country and the financial crisis without recourse to foreign borrowing continued." 

The Prime Minister Haider Abadi, stressed earlier, the importance of reducing operating expenses to ensure the provision of adequate resources to cover the salaries of employees in the state and the provision of pensions and social protection benefits in the budget of 2018.

[DinarThug]

LINK

Economist reveals the size of the budget next year and excludes high oil prices

 

14th October, 2017  

 

The economic expert on behalf of Jamil Antoine, Saturday, October 14, 2017 on the size of the budget forecast for next year, while noting that it will not differ from the current budget form or content, ruled out high oil prices in the foreseeable future.

Antoine said that "the Council of Ministers continue to work on the draft budget next year 2018 and will be sent to the House of Representatives during the current month, according to official sources," noting that "it will not differ from the budget this year form and content only a few minor changes."

He added that "the current year's budget suffers from a number of problems, including near-total dependence on unilateral oil revenues, with the absence of strategic and national plans for the advancement of industry and agriculture and focused its efforts to ensure the salaries of employees at the base level."

He added that "the amount of money estimated to budget next year does not exceed 110 trillion dinars, with the Council of Ministers to allocate 20% of them for the reconstruction of liberated areas of the Daash," stressing that "the readings of the oil market indicate the absence of a significant rise in oil prices in the near future."

The Council of Ministers had announced in the previous days on the arrival of the draft federal budget law for the next year to its final stages.

[Butifldrm]

Economist": Iraq's budget 2018 does not exceed 110 trillion dinars

In accordance with the constitutional timing, the "ministers" shall submit a draft budget law to the Parliament for approval, no later than the end of October of each year

 

 14 October 2017 04:47 PM

Direct : An Iraqi economist said that the budget for next year 2018 does not exceed 110 trillion dinars (92.285 million dollars), the government allocates 20% of the projects for the reconstruction of liberated areas of Dahesh.

Basem Jameel Antoine told the Iraqi News Agency on Saturday that the 2018 budget will not differ from the current budget in form or content, ruling out the rise in oil prices in the near future.

The Iraqi Council of Ministers headed by "Haider Abadi", working on the draft budget in 2018, in preparation for sending to the Iraqi parliament during October, according to the constitutional timing, after it was announced soon that the draft "in the final stages."

He stressed " the appearance of Saleh," the financial adviser to Iraqi Prime Minister , that the 2018 budget year tend to expand non - oil resources, referring to the orientation state to encourage employment through the private sector, and the development of lending to youth programs with soft loans, and the empowerment of engaging in the labor market .

He directed "Haider Abadi" to conduct a careful review of the proposal for the general budget 2018, and work to increase non-oil revenues, and reduce government expenditures for the presidencies and ministries, and to secure wages and salaries of state employees, describing them as "budget austerity"

The IMF said that the economic policies implemented by the Iraqi authorities are appropriate to deal with the shocks facing Iraq, the armed conflict with Dahesh, the consequent humanitarian crisis and the collapse of oil prices.

In a previous statement, the Iraqi Central Bank said that it had lent the Iraqi government $ 32 billion to finance its war on Da'ash, noting that high oil prices and dependence on non-oil revenues would pay the government's debt to the bank

Related Topics 

 

https://www.mubasher.info/news/3170916/-اقتصادي-موازنة-العراق-2018-لا-تتجاوز-110-تريليونات-دينار?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ar%2FISX%2Fnews+(ISX+Arabic+News)

[Butifldrm]

Why do these economist always get their conversions wrong?

 

 An Iraqi economist said that the budget for next year 2018 does not exceed 110 trillion dinars (92.285 million dollars), 

[Butifldrm]

OSTED ON 2017-10-17 BY SOTALIRAQ

Parliamentary finance is likely to delay the arrival of the draft budget bill to the House of Representatives

The parliamentary Finance Committee, delayed the arrival of draft draft federal budget bill 2018 to the House of Representatives until early next month, stressing that the recent political crisis overshadowed the timing of the arrival of the general budget from the government.

"According to the constitutional timing, the draft budget law was supposed to reach the parliament on October 10," said committee chairman Ahmad al-Haj Hama Rashid. "The draft law has not yet arrived in the light of a current political crisis. "According to the National News Agency.

He added that "the Finance Committee is still waiting for the arrival of the draft budget bill from the government to the House of Representatives, to begin study and discuss in preparation for approval within the time limits of the current legislative session."

He concluded by saying that "we expect the delay of the arrival of the draft budget law, at least until the end of the current month and solutions next month, in the light of the current crisis and the continued efforts of political parties to bring the views of the federal government and the Kurdistan region."

The Prime Minister Haider Abadi, last week during his chairmanship of the meeting to review the draft budget law for the year 2018, with a number of officials and owners advanced in the Ministry of Finance, to maximize non-oil revenues and reduce operating expenses to ensure the provision of adequate resources to cover the salaries of employees in the state, Pensions and social protection benefits.

 

https://www.sotaliraq.com/2017/10/17/المالية-النيابية-ترجح-تأخر-وصول-مسودة/

[Integrativedoc]

On 10/15/2017 at 1:05 PM, Butifldrm said:

Why do these economist always get their conversions wrong?

 

 An Iraqi economist said that the budget for next year 2018 does not exceed 110 trillion dinars (92.285 million dollars), 

Most times they use a period where we use a comma.

[yota691]

Ahrar: Budget 2018 must leave the 17% allocated to the northern provinces

OCTOBER 20, 2017 | 1:21 PM

Ahrar: Budget 2018 must leave the 17% allocated to the northern provinces

 

BAGHDAD / Al-Baghdadiya News .. The Liberal Bloc called on Friday to leave the 17% allocated to northern Iraq from the budget of 2018.

"The Council of Ministers and the relevant parliamentary committees should deal with the northern governorates according to the estimated population ratio for each governorate during the stages of preparing the federal budget for the year 2018," MP of the bloc Mazen Mazni said in a statement received by the Baghdadiya News that " Must be under the authority of the judiciary and investment of wealth is in accordance with the plan of the Iraqi government. "

He added that "dealing with the northern provinces can only be on the basis that it is a subsidiary of the central government and the process of control and follow-up," noting that "the need to leave the budget of 2018 to give the 17% of the provinces of the north and rely on the proportion of population, Governorates of Iraq "

[yota691]

Disclosure of the intention of the government to amend the budget on the share of Kurdistan

OCTOBER 20, 2017 | 12:33 PM

Disclosure of the intention of the government to amend the budget on the share of Kurdistan

 

Baghdad / Baghdadiya News / ... Revealed a member of the Finance Committee parliamentary MP Massoud Haider, on Friday, there is an intention of Prime Minister Haider Abadi to make an adjustment in the financial budget for the next year on the share of Kurdistan by calculating the share on the basis of population ratios for each province of the region and cancel Expenditure.

"There is information received from the parties close to the Prime Minister's intention to amend the federal budget for next year and to calculate the share of the region on the basis of population ratios for each of the provinces of the region, according to statistics of the Ministry of Commerce in addition to canceling Ruling expenses. "

"These steps from the general perspective may be contrary to the constitution, which stipulates that Iraq is a federal federal and that the powers of the province are constitutional," Heider said, adding that "calculating the proportion of each province needs accurate statistics from the Ministry of Planning for population ratios, which is not available now." /a

[yota691]

Kurdish deputy reveals Abadi's intention to amend the budget on the share of northern Iraq

12:20 - 20/10/2017

 

Information / Baghdad.

A member of the Finance Committee MP Masoud Haider, on Friday, there is an intention of Prime Minister Haider Abadi to make an adjustment in the financial budget for the next year on the share of Kurdistan by calculating the share based on the population ratios of each province of the province and the abolition of expenses ruling, The move now will cause "great chaos".

Haidar said in a brief statement that "there is information received from the parties close to the Prime Minister's intention to amend the federal budget for next year and calculate the share of the region on the basis of population ratios for each province of the provinces according to statistics of the Ministry of Commerce, "He said.

He added that "these steps from the general perspective may be contrary to the Constitution, which stipulates that Iraq federal federal and the territorial authorities of constitutional, in addition to the existence of obstacles may obstruct the implementation of this step in the near term and increase the suffering of citizens and employees of the region and pave the way to increase isolation between Baghdad and Erbil" , Explaining that "calculating the proportion of each province needs accurate statistics from the Ministry of Planning of population ratios, which is not available now."

Haidar called on the Prime Minister to "study such plans in detail and take into account the timing of their application, which may need years of work and parliamentary legislation and even constitutional amendments before proceeding with haste because the biggest loser will be the people of Kurdistan, especially Iraq in general."

[Wiljor]

Sharing is caring and Abadi’s intentions are to spread the wealth to all Iraqis  

Thanks Yota, very much appreciated